Monterey Private Wealth Inc. grew its stake in shares of JPMorgan Chase & Co. (NYSE:JPM) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,544 shares of the financial services provider’s stock after acquiring an additional 1,605 shares during the quarter. JPMorgan Chase & Co. comprises about 0.8% of Monterey Private Wealth Inc.’s investment portfolio, making the stock its 24th biggest holding. Monterey Private Wealth Inc.’s holdings in JPMorgan Chase & Co. were worth $2,288,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in JPMorgan Chase & Co. by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,450,775 shares of the financial services provider’s stock worth $938,491,000 after purchasing an additional 319,730 shares during the period. Sageworth Trust Co grew its holdings in shares of JPMorgan Chase & Co. by 37.9% in the third quarter. Sageworth Trust Co now owns 2,860 shares of the financial services provider’s stock worth $603,000 after acquiring an additional 786 shares during the period. Kingsview Wealth Management LLC increased its position in JPMorgan Chase & Co. by 2.5% during the third quarter. Kingsview Wealth Management LLC now owns 118,095 shares of the financial services provider’s stock valued at $24,902,000 after acquiring an additional 2,839 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in JPMorgan Chase & Co. by 16.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 692,809 shares of the financial services provider’s stock valued at $143,594,000 after acquiring an additional 95,461 shares during the period. Finally, Zions Bancorporation N.A. grew its stake in shares of JPMorgan Chase & Co. by 2.5% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,157 shares of the financial services provider’s stock valued at $2,353,000 after purchasing an additional 267 shares during the period. 71.55% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently issued reports on JPM shares. Oppenheimer downgraded shares of JPMorgan Chase & Co. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 20th. Bank of America boosted their price objective on shares of JPMorgan Chase & Co. from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada raised their target price on JPMorgan Chase & Co. from $211.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their price target on JPMorgan Chase & Co. from $240.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Daiwa Capital Markets decreased their price objective on JPMorgan Chase & Co. from $240.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $251.78.
Insider Buying and Selling
In other news, General Counsel Stacey Friedman sold 3,303 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $253.94, for a total value of $838,763.82. Following the completion of the sale, the general counsel now directly owns 47,620 shares of the company’s stock, valued at $12,092,622.80. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is currently owned by company insiders.
JPMorgan Chase & Co. Price Performance
NYSE:JPM opened at $264.66 on Friday. The business’s 50-day moving average is $245.28 and its 200 day moving average is $225.83. JPMorgan Chase & Co. has a 12 month low of $170.90 and a 12 month high of $267.10. The company has a market capitalization of $745.09 billion, a P/E ratio of 13.41, a P/E/G ratio of 2.83 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.89 and a debt-to-equity ratio of 1.24.
JPMorgan Chase & Co. (NYSE:JPM – Get Free Report) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.78. The firm had revenue of $42.77 billion during the quarter, compared to analyst estimates of $41.90 billion. JPMorgan Chase & Co. had a net margin of 20.96% and a return on equity of 16.99%. JPMorgan Chase & Co.’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 17.82 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Monday, January 6th. JPMorgan Chase & Co.’s payout ratio is 25.33%.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services to consumers and small businesses through bank branches, ATMs, and digital and telephone banking.
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